Nuveen LLC Invests $589,000 in BARK, Inc. $BARK

Key Points

• Nuveen LLC has acquired a new stake in BARK, Inc. by purchasing 424,092 shares, valued at approximately $589,000, amounting to 0.24% ownership by the end of the most recent quarter.
• Recent analyst reports show a shift in sentiment, with Wall Street Zen downgrading BARK from "hold" to "sell," while Canaccord Genuity and Jefferies Financial Group have also reduced their price targets for the stock.
• The company's latest earnings report indicated a negative return on equity of 15.32% and revenue of $115.41 million, falling short of analysts' expectations of $126.74 million.

Nuveen LLC purchased a new position in BARK, Inc. (NYSE:BARK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 424,092 shares of the company's stock, valued at approximately $589,000. Nuveen LLC owned approximately 0.24% of BARK at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC raised its holdings in BARK by 71.5% in the 1st quarter. Virtu Financial LLC now owns 76,226 shares of the company's stock worth $106,000 after purchasing an additional 31,786 shares in the last quarter. XTX Topco Ltd lifted its holdings in BARK by 71.1% during the first quarter. XTX Topco Ltd now owns 211,693 shares of the company's stock valued at $294,000 after purchasing an additional 87,977 shares in the last quarter. United Advisor Group LLC raised its position in shares of BARK by 64.0% during the fourth quarter. United Advisor Group LLC now owns 153,725 shares of the company's stock valued at $283,000 after buying an additional 60,000 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of BARK during the fourth quarter valued at $182,000. Finally, Squarepoint Ops LLC lifted its position in shares of BARK by 169.9% during the 4th quarter. Squarepoint Ops LLC now owns 115,728 shares of the company's stock valued at $213,000 after buying an additional 72,849 shares in the last quarter. 28.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BARK. Jefferies Financial Group cut their price target on BARK from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Thursday, June 5th. Canaccord Genuity Group dropped their price objective on BARK from $2.50 to $2.00 and set a "hold" rating on the stock in a report on Thursday, June 5th. Finally, Wall Street Zen lowered BARK from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2.63.

BARK Price Performance

Shares of BARK stock traded up $0.02 during trading hours on Monday, reaching $0.90. The company had a trading volume of 298,828 shares, compared to its average volume of 1,031,454. BARK, Inc. has a 12 month low of $0.77 and a 12 month high of $2.56. The business has a fifty day simple moving average of $0.90 and a 200-day simple moving average of $1.13. The company has a market cap of $152.38 million, a price-to-earnings ratio of -5.22 and a beta of 1.88.

Insiders Place Their Bets

In other BARK news, CFO Zahir Ibrahim acquired 58,823 shares of BARK stock in a transaction that occurred on Friday, June 13th. The stock was acquired at an average cost of $0.86 per share, for a total transaction of $50,587.78. Following the purchase, the chief financial officer owned 364,378 shares of the company's stock, valued at approximately $313,365.08. This represents a 19.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.80% of the company's stock.

BARK Profile

BARK Inc, a dog-centric company, provides products, services, and content for dogs. It operates in two segments, Direct to Consumer and Commerce. The company serves dogs through monthly subscription services. It is also involved in the design of playstyle-specific toys, satisfying treats, personal meal plans with supplements, and dog-first experiences designed to foster health and happiness of dogs everywhere.